Alexander's, Inc.

NYSE:ALX 주식 리포트

시가총액: US$1.3b

Alexander's 과거 순이익 실적

과거 기준 점검 1/6

Alexander's의 수입은 연평균 -19.7%의 비율로 감소해 온 반면, Retail REITs 산업은 수입이 연평균 13.1% 증가했습니다. 매출은 연평균 1.9%의 비율로 증가해 왔습니다. Alexander's의 자기자본이익률은 22.7%이고 순이익률은 9.7%입니다.

핵심 정보

-19.74%

순이익 성장률

-19.78%

주당순이익(EPS) 성장률

Retail REITs 산업 성장률8.45%
매출 성장률1.95%
자기자본이익률22.68%
순이익률9.72%
최근 순이익 업데이트31 Mar 2026

최근 과거 실적 업데이트

Recent updates

Seeking Alpha • Dec 19

Alexander's: Fed Tailwinds Drive FFO Growth

Summary Alexander's, Inc. is a commercial REIT managing five properties in New York, with Bloomberg accounting for 60% of revenues. ALX's Q3 2025 results show FFO growth of 2.5%, principally driven by lower funding costs, which more than offset a drop in net operating income. Looking ahead to Q4 2025 and 2026, I see ALX's net operating income returning to growth thanks to recent occupancy gains. I anticipate ALX 2026 FFO to land in a range of $12.00-12.50/share, with growth principally stemming from 2025 Fed cuts. Key risks in the investment case include outsized exposure to Bloomberg and New York State, which are easily addressed by holding ALX as part of a broader REIT portfolio. Read the full article on Seeking Alpha
Seeking Alpha • Apr 14

Alexander's: Is The Dividend Safe?

Summary Alexander's is up year-to-date, outperforming its peers, even as its dividend looks less safe. Dividend coverage has slipped to 90%, down from 111% a year ago, as FFO and free cash flow continue to dip. The REIT faces $502 million in debt repayments this year against cash and cash equivalents of just $338.53 million. Read the full article on Seeking Alpha
Seeking Alpha • Jan 26

Alexander's: Bloomberg Lease Secured, Is The Dividend Safe

Summary Alexander's has dipped materially from its 52-week high following a spike in the US 10-year Treasury yield. The REIT generated fiscal 2024 third-quarter FFO of $2.84 per share, down from its year-ago comp. A $354.8 million cash and cash equivalents position helps to provide a buffer for the REIT, but 2025 debt maturities are heavy and will pose a challenge. Read the full article on Seeking Alpha
Seeking Alpha • Nov 12

Alexander's Is A Good Business That The Market Has Overestimated

Summary Alexander's, Inc. has underperformed since 2019, with a -1.7% TSR compared to SPY's 113%, due to declining profitability and rich valuations. Despite increasing NOPAT since 2020, the Company's GAAP net income and NOPAT margins have declined from 2019 highs, impacting overall profitability. Management has created value with $154 million in economic earnings since 2019, but ALX remains overvalued with unrealistic growth expectations. Alexander's stock is not recommended due to its inability to meet market expectations and reward investors despite its operational improvements. Read the full article on Seeking Alpha
Seeking Alpha • Jul 16

Alexander's Inc.:  Numerous Signs Of Distress

Summary Office REITs have gained modestly this year, but face challenges due to the WFH trend and mounting defaults in commercial real estate loans. Alexanders, Inc. is a small-cap REIT with a portfolio of office and retail properties in New York City, facing heavy indebtedness, shrinking revenues, and reliance on a single tenant. ALX faces liquidity issues, and may need to cut dividends or dilutively issue new shares, making it a risky investment for the longer term. Read the full article on Seeking Alpha
Seeking Alpha • Apr 21

Alexander's: Hold On To This 8.8% Yield From New York City

Summary Alexander's has maintained its dividend through recent chaos, offering an 8.8% dividend yield. The REIT's coverage of its dividend is at 88% against its full-year 2023 FFO. There is $500 million in debt maturing debt in 2024 which needs to be refinanced or extended. Read the full article on Seeking Alpha
Seeking Alpha • Jan 29

Alexander's: A Lot Of Risks For A Small Discount

Summary Alexander's, Inc. is a REIT that owns and manages 5 retail properties in New York City. The REIT's operating performance is concerning, with low occupancy rates and minimal revenue growth. There are also risks associated with portfolio concentration, significant tenant dependency, and upcoming mortgage maturities. Additionally, the dividend is in danger and the current discount to NAV is unattractive. Read the full article on Seeking Alpha
Seeking Alpha • Nov 01

Alexander's 10% Yield Seems Compelling But Faces Headwinds

Summary Alexander's fiscal 2023 third quarter FFO dipped heavily from its year-ago comp. This has put at risk a historically stable payout as the dividend coverage now stands at 81%. A large cash position means ALX can sustain its dividend payments for years, but it faces upcoming debt maturities that will require refinancing. Read the full article on Seeking Alpha
Seeking Alpha • Aug 02

Alexander's, Inc.: The Needle Is Pointing Down

Summary Office REITs in urban areas with long commutes will likely continue to struggle due in large measure to the WFH trend. Alexander's Inc. owns 5 properties in the New York metropolitan area, including the world headquarters of Bloomberg. Shares in ALX have been losing value for nearly 10 years and revenues are declining significantly. ALX is in imminent danger of a dividend cut in the face of declining revenues and heavy near-term debt maturities. Read the full article on Seeking Alpha
Seeking Alpha • Feb 13

Alexanders AFFO of $4.03 misses by $0.05, revenue of $53.05M beats by $1.35M

Alexanders press release (NYSE:ALX): Q4 AFFO of $4.03 misses by $0.05. Revenue of $53.05M (+6.8% Y/Y) beats by $1.35M.
Seeking Alpha • Jan 18

Alexanders declares $4.50 dividend

Alexanders (NYSE:ALX) declares $4.50/share quarterly dividend, in line with previous. Forward yield 7.76% Payable Feb. 10; for shareholders of record Jan. 30; ex-div Jan. 27. See ALX Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Oct 26

Alexanders declares $4.50 dividend

Alexanders (NYSE:ALX) declares $4.50/share quarterly dividend, in line with previous. Forward yield 7.89% Payable Nov. 18; for shareholders of record Nov. 7; ex-div Nov. 4. See ALX Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jul 27

Alexanders declares $4.50 dividend

Alexanders (NYSE:ALX) declares $4.50/share quarterly dividend, in line with previous. Forward yield 7.73% Payable Aug. 19; for shareholders of record Aug. 8; ex-div Aug. 5. See ALX Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jul 09

Alexander's: Bottom Fishing On This Commercial REIT Could Be Risky

Alexander's is witnessing higher demand and has an active pipeline in the retail real estate segment. However, it is struggling in the office market. Steady demand and higher rents can only happen in the long run, as in the short run, ALX’s huge vacancies will get absorbed at low rents. A mid-to-high single-digit FFO growth will not be good enough to sustain ALX’s current yield in case the price rises, even by a low percentage. Alexander's Inc. Alexander's, Inc. (ALX) is a real estate investment trust ((REIT)) which leases, manages, and develops properties primarily in the retail segment. The company's portfolio comprises retail and office properties located in metropolitan and suburban areas of New York City. Alexander's major tenants include financial institutions, fashion and accessories stores, toy shops, homeware and furniture stores, and department stores. The company generates revenue from leasing to tenants, and rents generated from parking spaces. The majority of consolidated revenue is derived from tenant leases. Alexander's activities are conducted through its manager, Vornado Realty Trust (VNO). ALX has 6 properties in the greater New York City metropolitan area consisting of - 731 Lexington Avenue office and retail (including Bloomberg, L.P.'s world headquarters), the Rego Center complex in Rego Park, Queens, including the Rego Park I, II, and III retail properties and The Alexander apartment tower, and a retail property located in Flushing, NY. By the beginning of May 2022, ALX had a utilization of just 46 percent. Rentals and FFO During Q1 2022 During Q1 2022, ALX's fund from operations ((FFO)) grew by 22 percent, primarily due to rent commencement on new office and retail leases. Retail leasing activity in the first quarter consisted of six lease contracts totaling 20,000 square feet with average starting rents of $172 per square foot. All these lease contracts have long term maturities. The company has an active pipeline and strong interest in the Penn district in particular. However, it is struggling in the office market. In Chicago, the office market continues to be challenged with direct vacancy and historically high levels of concessions provided to tenants. Still, almost 0.15 million square feet of new leases have been finalized in Q1, 2022, including an 81,000 square foot of Avant's (a lending FinTech company) headquarter and a 34,000 square foot renewal of Steelcase's showroom. The company also has almost 70,000 square feet of leases in negotiation. In San Francisco, although the overall vacancy rate is 15 percent, 555 California is almost 97 percent occupied. Dividend Yield Alexander's, Inc.'s market price has been in a steady fall over the past five years. Price dropped by almost 45 percent. Prior to that the share traded around $400 for several years. The falling prices resulted in a relatively higher yield. The average yield over the past four years is little over 6 percent, and it has generated a yield in the range of 5 percent to 7 percent. The yield over the trailing twelve months (TTM yield) is 7.8 percent. Without a doubt, this REIT is trying to generate high yield for its investors. This commercial REIT has paid regular quarterly dividends since 2010. The company made a steady growth in the pay-out, and despite such drastic impact of covid-19 pandemic, it has been able to continue with the same pay-out. At present the pay-out is marginally more than its FFO. This denotes a small part of its dividend is financed from capital, primarily from the sale proceeds of office properties. The company also possesses a high degree of liquid assets of $4 billion, including $1.8 billion of cash, restricted cash and investments in US treasury bills. Impact of Inflation, Interest Rates, and Looming Recession Commercial real estate, such as retail spaces, hotels, and office buildings, takes years to be developed and operationalised. In case the demand for retail spaces shoots up, as happened at the end of 2021, rent of retail properties shifts upwards, as it is not possible to meet the supply in the short term. Also, the properties are likely to witness full occupancy. This is what happened to Alexander's, Inc. The company has retail properties and parking spaces in prime locations, which surely will continue the steady flow of revenues. Office REITs, however, are having a difficult time due to the rising popularity of the work from home options. Alexander's, Inc. is already facing a low occupancy, as well as prospective lease termination in the coming years. The present value of the estimated additional lease liability is expected to reduce Alexander's earnings by $21 million this year. With the current market volatility and rising interest rates, the financing markets are also in an uncertain situation.
Seeking Alpha • Mar 20

Alexander's: Trading At ~69% Of NAV, Yields 7.1% And Insiders Own >50%

Alexander's is an under-the-radar $1.28 billion NYC REIT that trades below private market value. It is currently trading at ~69% of NAV. As you wait for the discount to close, you can snack on a 7% yield. Insiders are aligned and own >50% of the stock.
Seeking Alpha • Sep 07

Alexander's: An Excellent Value Stock Currently Yielding 7%

Alexander's owns iconic properties in the NYC region, and is seeing signs of a rebound. Yet its stock trades in value territory. If the recent City Office transaction is any indication, it could mean a public and private market price dislocation for Alexander's as well. I also highlight the balance sheet, dividends, and other points worth considering.
분석 기사 • Dec 29

Is Alexander's, Inc.'s (NYSE:ALX) 18% ROE Better Than Average?

Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...

매출 및 비용 세부 내역

Alexander's가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.

순이익 및 매출 추이

NYSE:ALX 매출, 비용 및 순이익 (USD Millions)
날짜매출순이익일반관리비연구개발비
31 Mar 262122170
31 Dec 252132870
30 Sep 252163760
30 Jun 252183760
31 Mar 252204070
31 Dec 242264370
30 Sep 242334770
30 Jun 242335270
31 Mar 2423310760
31 Dec 2322510260
30 Sep 232159960
30 Jun 2321310460
31 Mar 232105460
31 Dec 222065860
30 Sep 2220212060
30 Jun 2219811660
31 Mar 2219912760
31 Dec 2120613160
30 Sep 212137460
30 Jun 212076960
31 Mar 212015560
31 Dec 201994260
30 Sep 201993860
30 Jun 202134860
31 Mar 202244760
31 Dec 192266060
30 Sep 192285660
30 Jun 192295460
31 Mar 192326050
31 Dec 182335750
30 Sep 182336550
30 Jun 182327050
31 Mar 182317350
31 Dec 172318150
30 Sep 172308450
30 Jun 172298550
31 Mar 172298650
31 Dec 162278650
30 Sep 162238850
30 Jun 162188650
31 Mar 162118150
31 Dec 152087750
30 Sep 152067150
30 Jun 152047050

양질의 수익: ALX는 고품질 수익을 보유하고 있습니다.

이익 마진 증가: ALX의 현재 순 이익률 (9.7%)은 지난해 (18%)보다 낮습니다.

잉여현금흐름 대비 순이익 분석

과거 순이익 성장 분석

수익추이: ALX의 수익은 지난 5년 동안 연평균 19.7% 감소했습니다.

성장 가속화: ALX은 지난 1년 동안 수익이 감소하여 5년 평균과 비교할 수 없습니다.

수익 대 산업: ALX은 지난 1년 동안 수익이 감소(-48.1%)하여 Retail REITs 업계 평균(38%)과 비교하기 어렵습니다.

자기자본이익률

높은 ROE: ALX의 자본 수익률(22.68%)은 높음이지만 높은 부채 수준으로 인해 왜곡되어 있습니다.

총자산이익률

투하자본수익률

우수한 과거 실적 기업을 찾아보세요

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기업 분석 및 재무 데이터 상태

데이터최종 업데이트 (UTC 시간)
기업 분석2026/05/21 10:34
종가2026/05/21 00:00
수익2026/03/31
연간 수익2025/12/31

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분석가 소스

Alexander's, Inc.는 1명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.

분석가기관
Alexander GoldfarbPiper Sandler Companies